"When I did 'Hope Springs,' [Meryl] mentioned she was a fan and she said, 'Oh, I'd love to be in it,'" Steve told Billy Bush and Kit Hoover on Friday's Access Hollywood Live. "But that's not gonna [happen] -- that's not a thing.

While Meryl isn't available, Steve confirmed the highly anticipated sequel will feature Harrison Ford, James Marsden and Kristen Wiig, and said the Will Ferrell-led comedy will not disappoint.

"It's gonna be really funny. It's a great script," he said. "I think the fact that it had eight years to gestate [was helpful]. The second one actually makes sense. It's smart and really silly at the same time."

In fact, Steve said the movie will be hilarious and remain "very similar to the first in terms of tone."

Before Steve temporarily lowers his I.Q. roughly 80 points to reprise his role as lovably dense weatherman Brick Tamland, the actor will be seen as a legendary magician who's struggling to remain relevant in "The Incredible Burt Wonderstone."

Playing the flamboyant Las Vegas illusionist required dramatic, over-the-top hair and makeup, as well as hair removal on his chest (something the actor is painfully familiar with due to his memorable waxing scene in "40-Year-Old Virgin").